CLAIM #39718 · Mondelez International Inc (MDLZ) · 2024Q1 earnings call · Apr 30, 2024 · due Jun 30, 2024
“We have now landed the vast majority of pricing in Europe. One customer alliance is still ongoing, which will cause some additional disruption in Q2, but the business remains in line with our expectations.”
Luca Zaramella · CFO
In context
“and Hu in the U.S. Gum and candy grew 12.9% driven by continued momentum and strength in key markets, including China, Mexico and Western Andean. Let's review market share performance on Slide 12. We held or gained share in 40% of our revenue base with strength in chocolate as well as in gum and candy. This trend was offset by softer results in our U.S. biscuits business. Turning to regional performance on Slide 13. Europe grew 4.4% in Q1. Execution was strong in the quarter, with a number of key countries delivering strong growth through solid pricing and excellent Easter execution, which led to share gains. This trend was partially offset by volume declines associated with expected customer disruption, while dollars were up more than 20% and including significant A&C investments. We have now landed the vast majority of pricing in Europe. One customer alliance is still ongoing, which will cause some additional disruption in Q2, but the business remains in line with our expectations. North America grew 1.3% against an exceptionally strong compare of more than 16% in Q1 last year. Growth channels, including club and e-commerce and Canada, delivered strong results. However, overall volume/mix declined as a result of ongoing softness in food and mass. This softness has been consistent with the overall market and driven primarily by less frequency from lower income households. We are working to ensure our offers and activations continue to provide value to this consumer's cohort. And we continue to build that into our plans moving forward. We remain encouraged by our activation plans in key products such as OREO, TDP expansion and growth channels as we move through the year. North America OI increased by 2.1%. AMEA grew 5.9% for the quarter. China delivered another st”
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SEC filings for MDLZ ↗ · Claim quote is verbatim from the 2024Q1 earnings call.